Accounting Technical

ORSA opportunity: compliance and business value

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Forward-looking insurers are moving beyond a strictly "check the box"/compliance-driven attitude regarding Own Risk and Solvency Assessment (ORSA) requirements.

For many, ORSA strategies drive business opportunities, such as boosting existing enterprise risk management (ERM) practices. Join our panel of ORSA and ERM professionals, moderated by Bill Spinard, Insurance Risk Advisory Services Practice Leader, Ernst & Young LLP, for an interactive discussion on approaches to ORSA compliance that are also effective business strategies.

The panel will take questions from the webcast audience, and real-time polling during the event will give you an opportunity to learn how your organization compares with others.

Topics include:

  • Defining ORSA and what it means for your firm
  • Assessing your firm’s readiness and current ERM capabilities
  • Addressing common implementation gaps and challenges 
  • Aligning ORSA compliance to long-term business value

 

Panelists:

James Collingwood

Ernst & Young LLP

James Collingwood is a Manager with Insurance and Actuarial Advisory Services, Ernst & Young LLP. He is based in the Chicago office and has been with the firm for over 8 years. James serves as an advisor to insurance and reinsurance companies located in the United States and Europe. He has experience in tracking domestic and international capital and solvency regulatory changes and advising clients on how to meet the challenges they pose.

Chad Runchey

Ernst & Young LLP

Chad Runchey is a Senior Manager with Insurance and Actuarial Advisory Services, Ernst & Young LLP. He is based in the firm’s New York office. Chad has more than 9 years of experience serving the financial services industry. As a member of the firm’s Retirement Income team, he is the product manager of its Retirement Analytics tool, a proprietary ruleset used to model retirement risks.

Chad is a frequent speaker at industry conferences on the topics of retirement income and economic capital, and has been quoted in national insurance publications.

Adam Walter

Ernst & Young LLP

Adam Walter is a Senior Manager with Insurance and Actuarial Advisory Services Ernst & Young LLP. He is based in the firm’s Chicago office and has 15 years of advisory experience. Adam is a member of the Insurance Risk Management Practice that focuses on providing enterprise risk management, economic capital and performance measurement services to insurance enterprises. Since joining EY, Adam has been involved in a wide variety of projects with a focus on financial reporting and complex financial models for the financial services industry.

Adam has worked on ERM benchmarking projects and has developed a Risk Adjusted Return on Capital (RAROC) framework for a major global Financial Services and Insurance conglomerate. Adam has a BS in Actuarial Science from the University of Illinois and an MBA, with a concentration in Finance, from the University of Chicago.

Moderator:

Bill Spinard

Ernst & Young LLP

Bill Spinard leads Ernst & Young LLP’s risk practice for insurance companies and is responsible for organizing the firm’s internal risk advisory capabilities. Bill has over 25 years of experience in risk management, corporate governance, and risk analytics and reporting. He has deep experience assisting with the implementation of enterprise wide risk management functions for Fortune 500 companies, particularly financial services companies.

Bill works with large multiline insurance companies to help them design and build practical and sustainable risk management functions. He focuses on the end-to-end integration of a company’s risk management processes that include corporate governance, risk reporting and enabling information systems. Bill is a frequent writer and speaker on risk management issues and has spoken at conferences sponsored by Risk & Insurance Management Society, the Federal Reserve and the American Bankers Association. Bill holds an MBA and a Ph.D. in Finance from the Wharton School of the University of Pennsylvania.